So you have chosen to buy a second hand car that you like. You may have done a thorough research from many cars and you’ve finally decided what to buy. Once purchased, you will be transferring the ownership and insurance under your name. You need to have the auto insurance Delhi under your name to avoid problems of any insurance claims.
Auto insurance is a must for any vehicle whether new or second hand to drive around the highways and roadways. It also ensures protection for everyone inside the vehicle. In cases of accidents, there can be a fallback regardless of whether who was at fault. The Royal Insurance Agency can shoulder you and everyone on board the vehicle to make possible claims whenever accidents happen.
Here are what you ought to know about auto insurance for used cars:
Transferring the policy
Firstly, you need to ensure the car that you have purchased has a valid insurance. Certainly, the previous owner will present you with an insurance policy along with the documents for buying the vehicle. What you need to do is contact the insurance company from where the car is covered, and verify if there are previous claim history as well as the details of the policy. You need to do this to assure yourself that the vehicle is in running condition. Once you have purchased the vehicle, you will need to transfer the policy under your name for future claims and transactions. If the previous owner has no claim bonus on the policy, you can take it to your advantage by saving money on premiums.
In the auto insurance Delhi policy, it will often mention the sum insured. Do note that the value of the car will depreciate over time. As the value depreciates, the insurance premium will drop down. This will tell you how much the car is worth based on its age. This will also help you determine the real price of the car when you purchase it.
If you are getting insurance from the Royal Insurance Agency, you will know how to get insurance for a used or new car. For a new car, the paperwork is handled by the car dealer. For second hand cars, you need to do all the processes by yourself.